Plains GP (NYSE:PAGP) Stock Rating Upgraded by StockNews.com

Plains GP (NYSE:PAGP) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Tuesday.

Other equities research analysts have also recently issued reports about the company. Wells Fargo & Company cut Plains GP from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $22.00 to $20.00 in a research note on Wednesday, December 18th. Raymond James lifted their target price on Plains GP from $23.00 to $24.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 28th. Morgan Stanley increased their price target on shares of Plains GP from $19.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Barclays lifted their price objective on shares of Plains GP from $18.00 to $19.00 and gave the company an “underweight” rating in a report on Thursday, January 16th. Finally, Wolfe Research upgraded shares of Plains GP from a “peer perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a report on Friday, January 10th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $21.00.

Plains GP Stock Performance

NYSE:PAGP opened at $21.68 on Tuesday. The stock has a market capitalization of $4.29 billion, a P/E ratio of 40.91 and a beta of 1.55. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01. Plains GP has a fifty-two week low of $17.17 and a fifty-two week high of $22.31. The company has a 50 day moving average price of $21.29 and a 200 day moving average price of $19.63.

Hedge Funds Weigh In On Plains GP

Large investors have recently bought and sold shares of the business. Chickasaw Capital Management LLC lifted its position in shares of Plains GP by 24.7% during the 4th quarter. Chickasaw Capital Management LLC now owns 8,218,030 shares of the pipeline company’s stock worth $151,047,000 after buying an additional 1,629,008 shares during the last quarter. Tortoise Capital Advisors L.L.C. lifted its position in Plains GP by 8.0% in the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 12,513,005 shares of the pipeline company’s stock valued at $229,989,000 after acquiring an additional 927,855 shares during the last quarter. Algert Global LLC boosted its stake in Plains GP by 781.8% in the fourth quarter. Algert Global LLC now owns 772,966 shares of the pipeline company’s stock valued at $14,207,000 after acquiring an additional 685,307 shares in the last quarter. Clearbridge Investments LLC grew its holdings in shares of Plains GP by 11.7% during the fourth quarter. Clearbridge Investments LLC now owns 6,152,201 shares of the pipeline company’s stock worth $113,077,000 after purchasing an additional 646,130 shares during the last quarter. Finally, Yaupon Capital Management LP purchased a new position in shares of Plains GP during the third quarter worth about $9,772,000. Hedge funds and other institutional investors own 88.30% of the company’s stock.

About Plains GP

Plains GP Holdings, L.P., through its subsidiary, Plains All American Pipeline, L.P., owns and operates midstream infrastructure systems in the United States and Canada. It operates in two segments, Crude Oil and Natural Gas Liquids (NGLs). The company engages in the gathering and transporting crude oil and NGLs using pipelines, gathering systems, and trucks.